Hi everyone. Stock indexes are slightly down this week, which is suggesting that the upward momentum has slowed down. Usually this means we start moving sideways or down, but I think we will move up because there is less uncertainty surrounding the vaccine and the elections.
SPY weekly chart below. I’m bearish if we close next week back within the trading range indicated.
XLF (financial sector) is still doing reasonably well. Weekly chart below:
XLE (energy sector) continues to rebound this week. Weekly chart below:
Have a great week and enjoy Thanksgiving if you celebrate it!